The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1887-06-30
EATON. OHIO. THURSDAY. JUNE 80, Is
SPECULATION DID IT.

SPECUIAI1UN UlU IL.
A Sequel to the Great Chicago
Wheat Deal.
The Fidelity National Bank Closes Its
Doors, but the Oniclals say the Bank WIN
Pay Dollar For Dollar-ylce-Presiden
Harper Gives Up Eyery Thing to His
Creditors.
CINCINNATI June M.-To-day the doors Of
the Fidelity National Bank are closed When
o'clock arrived, the hour for opening the bank,
the doors were shut and admittance was denied
to all Soon q large and angry crowd gathered
and there was much excitement All kinds Of
rumors were abroad. One, and it is known to
be correct, was to the effect that the o. s. Bank
Examiner had spent yesterday and q
over the books, and that he
had announced that 1t would be well for Mr.. e.
L. Harper, the Vice President and virtual
manager Of the concern, to resign. Meanwhile
the crowd kept growing larger. md one or two
men began to mako threats and talked about
smashing the windows. But soon detail OF
eight policemen arrived, and they kept the
crowd quiet One obstreperous individual, who
claimed he would lose every thing should the
Fidelity go under, attempted to force the doors
Q8mm6I0Q MANNER
cd on them and paid no attention to the COM
mands Of the police to stop. Finally they were
obliged to tear him from the door and put him
on the outside Of the crowd where he quickly
subsided.
"Have you any thing to say. Mr.. Harperr
asked newsman at ten o'clock as he ap-
preached the vice-President OF the Fidelity,
who was found seated dstlessly behind his big
desk out Of sight Of those who were pcering
through the bank windows. mot word !"
was the answer, and then turning his eyes full
on the interviewer, betraying considerable
moisture about their corners, he continued:
what can sayf You see the bank is
closed. Is there much Of crowd out in frontg'
"Yes, there are good many people there, and
more coming" II think the excitement will
be greater in other towns than it is here, don't
your 'That will be matter to know Of
later. But, Mr.. Harper, what is there in this
statement that you were asked to re-
signr' II haven't o word to say"
The newsman then went to Mr.. Hopkins, the
assistant cashier, and asked the question Mr..
Harper had just refused to answer.
mot word of truth In it." "What about tho
depositors. Mr.. Hopkinsf'' ''Glad you mem
toned that. Say to them that they will get ev-
cry dollar, If not to-day or tomorrow the next
day. Make it conspicuous that they will get
every dollar"
Mr.. Rowland Ellis, the old Bank Examiner
for Ohio, said: "It looks very bad. Ihear tho
Government agent has discharged Messrs Har-
per. Baldwin and Hopkins from their positions
Of trust" ''How could Govern.
ment agent discharge themr' .Why
Its a Government depository and
the supposition is Inevitable from to-days de.
relopments that they have been using the Gov
ernments funds. The Government has preju-
dice against wheat deals, and will be likely
to be very severe with these men If they are
found to have been in that deal II they have
they have committed penitentiary otfense and
are now, depend upon it, under Governmental
surveillance"
Mr. J. R. DeCamp, Of the Metropolitan, has
been appointed receiver.
At noon to-day came the news Of the as
signment Of the enormous iron business Of
e. l.. Harper q Co. to Eugene Zimmerman.
e. L. Harper Go. controlled perhaps the
greatest iron interests west of the A1leghe-
MES. This includes the Riverside Rolling
Mill, at Cullom Station, Riverside, and the ex-
tensive works In Newport, KY, employing
thousands Of men. Mr.. Harper also makes an
individual assignment of his entire property,
giving up every thing He is ruined man.
Every thing he possesses has been turned over
to his creditors.
Mr.. Harper has transferred twenty-five lots
to the Fidelity Bank, and a half interest in two
others. However, he can not pay what he owes
the bank in this way. According to all accounts
that is Q hopeless debt.
Joseph w. Wiltshire transferred to e. L. Har
ent parts Of the city on prominent streets.
This, no doubt. was done to securs the banh
from any failure on the part of the grantor to
pay 81 600 ,000 which he, Wiltshire, is alleged to
have borrowed without the Directors consent
and conveyed to Chicago.
Joseph Wiltshire, it is said, has also gone up.
He has transferred his property to Mr. Harper,
who in turn transfers everything to his creditors
What caused the trouble! is the universal
question. 1t takes only one word In answer
speculation In spite Of all denials spite Of the
solemn assertions Of Mr. Harper to the contrary
the money of the Fidelity has been used in the
great Chicago wheat deal
There is one claim against the Fidelity by
the American Exchange Bank of over $3.50, !.
600. and Messrs. Swift and Lyman, two
prominent Chicago attorneys, have been here
for some days vainly trying to straighteu
out matters, and in connection with
this claim it is found that there was some
system of bookkeeping by which the wheat
deal operations were concealed. 1t is said
that Mr.. Hopkins signed Mr.. Harper's name
to the warehouse receipts, and that these re
ceipts were not entered on the regular books
as collaterals, but put together under some
other head which did not divulge their true
character. Thus the directors of the banl
were kept in ignorance Of what was going on.
A meeting of the Directors was held at az
o'clock this morning. The Bank Examiner was
present and he expounded the law to the III
closed until q complete examination of its con
dition should be made, and so when the houl
came for opening the doors they were no,
| opened.
It was supposed by many yesterday after
noon that the bank would have to close, and
| most Of the other city banks kept open until 8
o'clock for the transaction of regular business
| so as to give their depositors q chance to gel
| nd of their checks on the Fidelity.
| Notwithstanding the general knowledge that
the Fidelity was in trouble the Franklin allow
ed balance Of over $16 900 against the Fidelity
| to remain until to-day, whereas they could have
had it put through the Clearing House yester.
| day afternoon.
| One o: the direct causes Of the straits the Fl.
deity got into WAS the withdrawing of loan O
$4,000 which the Queen City had made for tn,
| purpose OF helping it along. The Queen Cit.
| has been friendly to the Fidelity and has a
various times given needed aid, bu
| when rumors Of the condition OF tn,
| Fidelity became serious it con
cluded to act on the principle Of self-preserva
ton, and demanded the return of its loan. 4
| run was made on the bank, too, yesterday aftel
noon. 1t did not assume great proportions, bu
| 1t was sufficient, with the withdrawal of favor!
such as the above mentioned, to render tn,
| Fidelity unable to meet serious run such q
| would unQuestionably have taken place to-day
The liabilities of the bank are q, 500 600, an,
assets about 8, 100000, with but $500 600 cash
hand.
By order Of the Comptroller of the Currenc,
| bank officials Harper. Baldwin and Hopkin
were arrested this evening. They waived ex
| animation and were bound over to the Unite,
States Grand Jury by Commissioner Hooper.
| The male wasp, the naturalist tell
us, never stings. But so long as hi
and his sister are twins and dress ex
actly alike this bit of knowledge avail
eth nothing to the careless man wh'
does not know it is the lady who is ap
preaching him until it be that sh
smiteth him with her hustle. Wha
humanity demands of science in tn
case of the wasp is the inven
ton of some prompter method of dis
tinguishing between Monsieur and Maj
damwazzle at forty yards. Burdettt
Some Pennsylvania men hav